Adams Accounting Blog

  • Are you self-employed and plan on claiming a tax deduction for superannuation contributions?

    You are able to claim a tax deduction for contributions that you make to your superannuation fund, but only if you are self-employed.

    To be able to claim a deduction you need to do a couple of things.

    First, you need to complete a ‘notice of intent to claim a deduction for personal super contributions’ form from your superannuation fund. The notice simply states the amount you wish to claim as a tax deduction and confirms you haven’t lodged an earlier notice regarding the same contribution.

    Second, you must lodge the deduction notice with your superannuation fund before you lodge your personal tax return.

    Once the superannuation fund is satisfied that your deduction notice is valid, they must formally acknowledge its receipt. This acknowledgement will be in writing and should be provided to your accountant at tax time.

    Your accountant cannot lodge your Income Tax Return until a copy of the acknowledgement letter has been provided to us.

    If you are unsure of the amount to claim as a tax deduction, we can complete the form for you whilst preparing your Income Tax Return, in order to receive the maximum deduction based on your circumstances.

    Copy & paste the following link into your browser bar to access the ATOs ‘notice of intent to claim a deduction for personal super contributions’


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